BSA / AML Officer

As a BSA/AML Officer at Paxos, your main responsibilities include managing compliance and risk programs specifically tailored for the US market, implementing financial crime and risk management policies, and advising on regulatory risks associated with new product launches. You will also serve as the primary compliance contact with US regulators, ensuring that potential compliance risks are identified and addressed promptly.

To qualify for the BSA/AML Officer position at Paxos, candidates should have 5-7 years of experience in compliance, ideally with leadership experience. A deep understanding of financial crime monitoring, US-specific regulations, and at least two years in a compliance or risk role within a regulated broker/dealer is essential. Additionally, experience in the digital asset sector would be beneficial.

A BSA/AML Officer at Paxos plays a crucial role in ensuring that the company adheres to regulatory standards. By designing and implementing effective compliance frameworks, conducting risk assessments, and providing regular reports to senior management, this role helps safeguard Paxos from potential regulatory risks and maintains the organization’s reputation for compliance in the blockchain space.

At Paxos, a BSA/AML Officer will receive ongoing training and support to stay updated on regulatory changes and compliance best practices. The role involves collaborating with a global Chief Compliance and Risk Officer and participating in regular training sessions to ensure effective implementation of compliance measures across the organization.

The expected salary range for a BSA/AML Officer at Paxos, located in the United States, is between $164,282 and $193,273 USD. This range may vary based on skills, experience, and qualifications, alongside opportunities for equity and performance-based bonuses.

In answering this question, emphasize your background in identifying and preventing financial crimes, including specific methodologies or technologies you have employed. Highlight your successes in enhancing monitoring processes and improving compliance standards in previous roles.

Describe your strategies for keeping current with regulatory changes, such as subscribing to relevant newsletters, attending industry conferences, or participating in professional networks. Illustrate your proactive approach to adapting compliance practices based on the latest regulations.

Outline a systematic approach for managing compliance risks related to new products, such as conducting thorough risk assessments, engaging with cross-departmental teams, and integrating compliance from the inception of product development. Discuss how you balance innovation and regulatory adherence.

Choose a specific example where you faced a significant compliance challenge. Walk the interviewer through the situation, your analysis of the issue, the steps you took to resolve it, and the positive outcomes that resulted from your actions. This demonstrates your problem-solving skills and resilience.

Explain your philosophy on compliance training, focusing on fostering a culture of awareness and accountability. Share examples of effective training programs you have developed or led, emphasizing techniques used to engage and educate staff on crucial policies.

Convey your understanding of various risk assessment methodologies, such as qualitative and quantitative approaches. Discuss how you tailor these methods to suit the unique needs of a cryptocurrency-focused organization like Paxos, ensuring thorough evaluations of the compliance landscape.

Highlight your direct collaborations with US regulators, detailing the nature of those interactions, compliance reports filed, or initiatives implemented as a result of regulator feedback. This showcases your understanding of regulatory expectations and your capacity to foster effective relationships.

In responding, emphasize the importance of prompt identification, containment, and mitigation of compliance breaches. Describe your step-by-step action plan, including internal communication channels and regulatory reporting, to ensure transparency and accountability.

Discuss your background in developing, implementing, and monitoring risk management policies. Provide examples of how you’ve led initiatives to strengthen these frameworks and the impact on compliance operations within previous organizations.

Here, express your enthusiasm for Paxos’ mission and commitment to compliance within the innovative blockchain space. Highlight aspects of the company that resonate with your career goals, such as its dedication to integrity, operational stability, and the opportunity to work at the forefront of digital financial services.